BEIJING, Jan. 30 (Xinhua) -- China's State Council, or the Cabinet, withdrew the administrative right over the release of financial and other news and information in China by foreign news agencies from Xinhua News Agency.

The entitlement is now given to the State Council Information Office, according to a decree signed by Premier Wen Jiabao, which was announced Friday.

Xinhua News Agency, as China's state news agency, became a legally authorized institution to exercise unified administration over the release of news and information in China by foreign news agencies in 2004. The agency obtained the authorization of administrating economic information release in China by foreign agencies in 1996.